The document contains notes related to a business plan for a KPO operation. It includes details such as: 1) Depreciation rates and assumptions for computers and peripherals as per SEZ guidelines. 2) Assumptions for the proportion of junior, middle, and senior billable resources based on management input and industry practices. 3) Exchange rate assumptions and projected quarterly depreciation of 1% for INR to USD conversion. 4) Assumptions for rental rates, hardware/software costs per seat, and electricity charges based on inputs from various divisions.

1. Note 1
Note 2
Note 3
Note 4
Note 5
Note 6
Note 7
Note 8
Notes To KPO B-Plan
Depreciation for computers and computer peripherals is taken as per guidelines for Special Economic Zones
Proportion on junior, Middle & Senior in Billable resources has been assumed as per management input and regular industry
practices both for captive and non-captive business
INR to US$ exchange rate has been taken as INR 40 per $ during end of FY08 & has been depreciated by 1 % per quarter
considering the ongoing maroeconomic scenario
It is assumed that, 10 people would start working at CIG premises at Signature Towers and hence no rent and maintainace
would be charged for Feb-Mar 08. Starting FY09, KPO will shift to new SEZ office space. Rental rates assumptions have been
collected from the Commercial Sales Team
H/W & S/W cost per new seat is taken as INR 3.25 L for billable resources and INR 1.10 L for non-Billable resources using the
inputs from architectural division. Electricity charges assuimption has been taken based on industry no.
In a BPO/KPO setup, Net utilisation rate is a product of utilisation rate and billing efficiency. Utilisation rate typically gives the
effective utilisation of any resource considering the time usually spent on bench. Billing efficiency refers to the ability of a
company to convert utilised hours to revenue. Since it depends on the organizational structure and nature of services provided
by a KPO, it may vary from 60% to 90%.
Average billing rate for architectural outsourcing is found to be $ 20/hr according to our studies. As per Evalueserve study on
KPO, increase in hourly cost can be maintained at around 7% per annum by non-captive KPOs.
Initial Target Billable resources are aspirational figures as per management input. Target Non Billable resouces are calculated
using the ratio of nonbillable:billable in KPO setup from the Evalueserve report. As per the report, the ratio can range from 1:4-5
for small 40 employee captive KPOs to 1:8 for non-captive ones.

2. INR Lakhs FY09 FY10 FY11 FY12 FY13
Inflows
1 Revenues 916 2,194 3,299 4,632 6,248
% Growth over last year 140% 50% 40% 35%
- Captive Revenue 582 1,128 1,572 2,191 3,053
- Non Captive Business 333 1,066 1,727 2,441 3,195
Outflows
1 Manpower Cost 375 993 1,534 2,188 2,907
as % of Revenue 41% 45% 46% 47% 47%
Billable Resources 274 774 1247 1796 2467
Non Billable Resources 101 219 287 392 440
2 General & Admin Expenses 88 214 311 424 535
- Rentals 47.9 116.8 168.8 229.3 286.4
- Office Maintainance 10.3 25.0 36.2 49.1 61.4
- Fitout Amortisation 18.8 45.9 66.3 90.1 112.5
- Electricity Charges 11.0 26.3 39.6 55.6 75.0
- Communication Charges
- Stationary Expenses
- Misc Expenses
3 Sales & Marketing Costs 46 110 165 232 312
as % of Sales 5% 5% 5% 5% 5%
EBITDA Margin 407 878 1,290 1,788 2,493
as % of Revenue 44% 40% 39% 39% 40%
4 Depreciation 48 112 141 152 158
EBIT Margins 359 766 1,148 1,636 2,334
5 Capex 160.9 183 146 160.2 165
H/W & S/W 120.9 183 146 160.2 165
Initial Misc Expenses - Corporate 40
B-Plan Cash Flows

3. Personnel Plan
Hours per week 45
Weeks/annum 52
Gross number of hours 2340
Leave and Holidays 392
Training and induction 64
Net Available number of Hours 1884
Net Utilisation Rate 82% Note 1
Billable number of Hours per Annum 1545
Average Billing Rate/hr ($) 20 Note 2
Yearly growth in billing rate 7% Note 2
Average Revenue/annum/seat ($) 30898 40500.5 12.359
Captive Non Captive
- Junior 80% 80% Note 6
- Middle 13% 13%
- Senior 7% 7% %
Annual Revenue (Lakhs) 200 28.5714
Team Size 7
- Junior 6
- Middle 1
- Senior 0
Yearly Appreciation 7%
INR Lakhs FY08 FY09 FY10 FY11 FY12 FY13
- Architects
- Junior 5 5.4 5.7 6.1 6.6 7.0
- Middle 8 8.6 9.2 9.8 10.5 11.2
- Senior 12 12.8 13.7 14.7 15.7 16.8
- Finance
- Junior 5 5.4 5.7 6.1 6.6 7.0
- Middle 8 8.6 9.2 9.8 10.5 11.2
- HR
- Junior 5 5.4 5.7 6.1 6.6 7.0
- Middle 8 8.6 9.2 9.8 10.5 11.2
- Facility Management
- Junior 4 4.3 4.6 4.9 5.2 5.6
- Middle 6 6.4 6.9 7.4 7.9 8.4
- Marketing & Sales
- Junior 6 6.4 6.9 7.4 7.9 8.4
- Middle 10 10.7 11.4 12.3 13.1 14.0
- Directors (CEO/CFO/COO) 25 26.8 28.6 30.6 32.8 35.1
- IT Support
- Junior 4 4.3 4.6 4.9 5.2 5.6
- Middle 7 7.5 8.0 8.6 9.2 9.8
0 1 2 3 4 5
FY08 FY09 FY10 FY11 FY12 FY13
Target Billable 0 19 34 45 58 76
No. Of new employees to be added 0 19 15 11 13 18
Architects
- Junior 0 15 27 36 46 61
- Middle 0 2 4 6 8 10
- Senior 0 1 2 3 4 5
Billable Costs (INR Lakhs) 0 110 219 323 448 624
- Architects
- Junior 0 80 155 221 301 428
- Middle 0 17 37 59 84 112
- Senior 0 13 27 44 63 84
Personnel Plan - Captive
Billable Hours - Non Captive
Renumeration Data - Yearly
Billable Resource Ratio
Billable Resources - Captive

4. FY08 FY09 FY10 FY11 FY12 FY13
Target Billable 0 26 81 127 175 222
No. Of new employees to be added 0 26 55 46 48 47
Architects
- Junior 0 21 65 102 140 178
- Middle 0 3 11 17 23 29
- Senior 0 2 6 9 12 16
Billable Costs (INR Lakhs) 0 164 555 924 1347 1843
- Architects
- Junior 0 112 372 625 918 1248
- Middle 0 26 101 167 241 325
- Senior 0 26 82 132 189 269
FY08 FY09 FY10 FY11 FY12 FY13
Target Billable 0 45 115 172 233 298
No. Of new employees to be added 0 45 70 57 61 65
Architects
- Junior 0 36 92 138 186 239
- Middle 0 5 15 23 31 39
- Senior 0 3 8 12 16 21
Target Non Billable 0 11 23 29 39 43
Non Billable : Billable (Note3) 1/4 1/4 1/5 1/6 1/6 1/7
Target new employees to be added 0 11 12 6 10 4
Actual new employees added 0 12 12 5 11 3
- Finance
- Junior 0 1 2 3 4 4
- Middle 0 1 1 1 2 2
- HR
- Junior 0 1 2 3 4 5
- Middle 0 1 1 1 2 2
- Facility Management
- Junior 0 1 2 3 4 4
- Middle 0 1 1 1 2 2
- Marketing & Sales
- Junior 0 2 6 6 9 10
- Middle 0 1 4 4 4 4
- Directors (CEO/CFO/COO) 0 1 2 3 3 3
- IT Support
- Junior 0 1 2 3 4 5
- Middle 0 1 1 1 2 2
INR Lakhs FY08 FY09 FY10 FY11 FY12 FY13
Billable 0 274 774 1247 1796 2467
- Architects
- Junior 0 193 527 845 1219 1676
- Middle 0 43 137 225 325 438
- Senior 0 39 110 176 252 353
Non Billable 0 101 219 287 392 440
- Finance
- Junior 0.0 5.4 11.4 18.4 26.2 28.1
- Middle 0.0 8.6 9.2 9.8 21.0 22.4
- HR
- Junior 0.0 5.4 11.4 18.4 26.2 35.1
- Middle 0.0 8.6 9.2 9.8 21.0 22.4
- Facility Management
- Junior 0.0 4.3 9.2 14.7 21.0 22.4
- Middle 0.0 6.4 6.9 7.4 15.7 16.8
- Marketing & Sales
- Junior 0.0 12.8 41.2 44.1 70.8 84.2
- Middle 0.0 10.7 45.8 49.0 52.4 56.1
- Directors (CEO/CFO/COO) 0.0 26.8 57.2 91.9 98.3 105.2
- IT Support
- Junior 0.0 4.3 9.2 14.7 21.0 28.1
- Middle 0.0 7.5 8.0 8.6 18.4 19.6
Personnel Cost
Personnel Plan - Non Captive
Personnel Plan

5. Rate Appreciation per Year 7%
INR/sq. ft. Q4 FY08 (Feb - Mar) Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q1 FY10 Q2 FY10 Q3 FY10 Q4 FY10 Q1 FY11 Q2 FY11 Q3 FY11 Q4 FY11 Q1 FY12 Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13 Q2 FY13 Q3 FY13 Q4 FY13
Residential 4.0 4.1 4.1 4.2 4.3 4.4 4.4 4.5 4.6 4.7 4.8 4.8 4.9 5.0 5.1 5.2 5.3 5.4 5.5 5.6 5.7
Commercial 5.0 5.1 5.2 5.3 5.4 5.5 5.5 5.6 5.7 5.8 5.9 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 7.0 7.1
Retail 5.0 5.1 5.2 5.3 5.4 5.5 5.5 5.6 5.7 5.8 5.9 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 7.0 7.1
Hotels 5.0 5.1 5.2 5.3 5.4 5.5 5.5 5.6 5.7 5.8 5.9 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 7.0 7.1
Amusement Parks 5.0 5.1 5.2 5.3 5.4 5.5 5.5 5.6 5.7 5.8 5.9 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 7.0 7.1
2007 - 2008 2008 - 2009 2009 - 2010 2010 - 2011 2011 - 2012 2012 - 2013 2013 - 2014 2014 - 2015 2015 - 2016
Residential 10,000,000 21,000,000 31,500,000 42,000,000 54,600,000 68250000 85312500 106640625 133300781.3
Commercial 1,953,437 812,636 4,500,000 6,000,000 7,800,000 9750000 12187500 15234375 19042968.75
Retail 1,102,763 0 6,750,000 9,000,000 11,700,000 14625000 18281250 22851562.5 28564453.13
Hotels 0 774,002 2,250,000 3,000,000 3,900,000 4875000 6093750 7617187.5 9521484.375
Amusement Parks 6,403,320 1,500,000
Total 19,459,520 24,086,638 45,000,000 60,000,000 78,000,000 97,500,000 121,875,000 152,343,750 190,429,688
% growth over last year 24% 87% 33% 30% 25% 25% 25% 25%
2007 - 2008 2008 - 2009 2009 - 2010 2010 - 2011 2011 - 2012 2012 - 2013 2013 - 2014 2014 - 2015 2015 - 2016
Residential 10,000,000 21,000,000 31,500,000 10,500,000 13,125,000 16,406,250 21,328,125 27,726,563 36,044,531
Commercial 1,953,437 812,636 4,500,000 1,500,000 1,875,000 2,343,750 3,046,875 3,960,938 5,149,219
Retail 1,102,763 0 6,750,000 2,250,000 2,812,500 3,515,625 4,570,313 5,941,406 7,723,828
Hotels 0 774,002 2,250,000 750,000 937,500 1,171,875 1,523,438 1,980,469 2,574,609
Amusement Parks 6,403,320 1,500,000
Total 19,459,520 24,086,638 45,000,000 15,000,000 18,750,000 23,437,500 30,468,750 39,609,375 51,492,188
% growth over last year 24% 87% 25% 25% 30% 30% 30%
INR Lakhs Q4 FY08 (Feb - Mar) Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q1 FY10 Q2 FY10 Q3 FY10 Q4 FY10 Q1 FY11 Q2 FY11 Q3 FY11 Q4 FY11 Q1 FY12 Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13 Q2 FY13 Q3 FY13 Q4 FY13
% of Captive Business to KPO 0% 50% 50% 75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Residential Revenue 0.0 66.8 67.9 103.7 140.7 178.9 182.1 185.2 188.5 249.3 253.7 258.1 262.6 347.4 353.5 359.7 366.0 484.1 492.6 501.2 510.0
Commercial Revenue 0.0 11.9 12.1 18.5 25.1 32.0 32.5 33.1 33.7 44.5 45.3 46.1 46.9 62.0 63.1 64.2 65.4 86.4 88.0 89.5 91.1
Retail Revenue 0.0 17.9 18.2 27.8 37.7 47.9 48.8 49.6 50.5 66.8 68.0 69.1 70.4 93.1 94.7 96.3 98.0 129.7 131.9 134.2 136.6
Hotels Revenue 0.0 6.0 6.1 9.3 12.6 16.0 16.3 16.5 16.8 22.3 22.7 23.0 23.5 31.0 31.6 32.1 32.7 43.2 44.0 44.7 45.5
Amusement Park Revenue 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total 0 103 104 159 216 275 280 284 289 383 390 396 403 534 543 552 562 743 756 770 783
582 1128 1572 2191
Revenue Workings
Unitech Area Forecasts
Captive Area Forecasts for KPO Revenues
Billing Rate Assumptions
Captive Revenue Projections

6. Customer Profile Tier
Employee
Strength
Customer
Revenues
(million $)
Average
Account
Size (US $)
Target
Revenue
Mix
Very Large Size e.g. Callison A1 750,000
Large size AEC firms – Top 500 firms in
the US
A 100+ 25 + 300,000 55%
Mid-size AEC firms in residential,
commercial architecture – 2000+ such
firms in US
B 50 – 100 4+ 25,000 35%
Boutique firms providing specialized
services to large clients – 5000+ firms in
US
C 20 2+ 5,000 10%
Annual Growth in Account Size 7%
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Q4 FY08 Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q1 FY10 Q2 FY10 Q3 FY10 Q4 FY10 Q1 FY11 Q2 FY11 Q3 FY11 Q4 FY11 Q1 FY12 Q2 FY12 Q3 FY12 Q4 FY12 Q1 FY13 Q2 FY13 Q3 FY13 Q4 FY13
New Clients added 0 0 2 2 3 2 2 2 3 3 4 3 5 3 4 3 5 3 4 3 5
Tier A1 1 1 1 1 1
Tier A 1 2 1 1 1 1 1 1 1 1 1
Tier B 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Tier C 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2
Non Captive Revenue
Tier A1 0 0 200974 204491 208069 211710 430831 438370 446042 453847 692685 704807 717141 729691 989947 1007271 1024898 1042834 1326355
Tier A 77648 237020 321558 327185 416138 423421 516997 526044 624458 635386 738864 751794 860569 875629 989947 1007271 1127388 1147117 1273300
Tier B 6471 6584 13398 20449 20807 28228 28722 36531 44604 52949 61572 70481 79682 89184 98995 109121 119571 130354 141478
Tier C 0 0 0 1363 2774 4234 5744 8767 11894 15128 18472 21927 25498 29188 32998 36933 40996 45189 49517
Total Revenue (US $) 0 0 84119 243604 535930 553488 647789 667593 982294 1009713 1126999 1157311 1511592 1549008 1682890 1723692 2111887 2160596 2312854 2365495 2790650
INR / US $ (Note 7) 40 39.6 39.2 38.8 38.4 38.0 37.7 37.3 36.9 36.5 36.2 35.8 35.5 35.1 34.7 34.4 34.1 33.7 33.4 33.0 32.7
Total Revenue (INR Lakhs) 0 0 33 95 206 211 244 249 363 369 408 414 536 544 585 593 719 729 772 782 913
333 1066 1727 2441 3195
220% 62% 41% 31%
INR Lakhs FY08 FY09 FY10 FY11 FY12 FY13
Captive Revenue 0 582 1128 1,572 2191 3053
YoY Growth 94% 39% 39% 39%
Non Captive Revenue 0 333 1066 1,727 2441 3195
YoY Growth 220% 62% 41% 31%
Total Revenue 0 916 2194 3299 4632 6248
YoY Growth 140% 50% 40% 35%
Annual Revenue Projections
Target Non Captive Customer Mix
Non Captive Revenue Projections

7. Space / Seat (Sq. Ft.) 100
INR/sq.ft./month Note 4
Office Space Rentals(SEZ) 70
Rental Deposit (No. Of Months) 6
Maintainace Charge 15
Fitout & Fixtures (INR/Sq. Ft.) 1250
Amortisation Rate (per 100 Rs on Fitouts) 2.2
Effective Fitout Amortisation (5 years) 27.5
INR
H/W & S/W - Billable 250000 Note 5
H/W & S/W - Non Billable 70000
Electricity Charges(as % of Revenue) 1.2%
FY08 FY09 FY10 FY11 FY12 FY13
New Employees Added
Billable 0 45 70 57 61 65
Non Billable 0 12 12 5 11 3
Total Employees Added 0 57 82 62 72 68
Space Required - Non Bill (Sq. ft.) 0 1200 1200 500 1100 300
Space Required - Billable (Sq. ft.) 0 4500 7000 5700 6100 6500
Rentals -Non Bill (SEZ) 0.0 10.1 20.2 24.4 33.6 36.1
Rentals -Billable (SEZ) 0.0 37.8 96.6 144.5 195.7 250.3
Maintainance Charge 0.0 10.3 25.0 36.2 49.1 61.4
Fitout Amortisation 0.0 18.8 45.9 66.3 90.1 112.5
H/W & S/W Depreciation (Note 8) 48.4 112.0 141.3 152.3 158.5
Capex (INR Lakhs)
H/W & S/W Cost 0.0 120.9 183.4 146.0 160.2 164.6
Fitouts & Fixtures (Already Amortised) 0.0 71.3 102.5 77.5 90.0 85.0
Cost Workings
Office Space Assumptions
Office Space Operating Expenses (INR Lakhs) - Note 4
Office Setup Costs - Quarterly

8. 0
2
4
6
8
10
12
14
16
0
50
100
150
200
250
300
350
FY09 FY10 FY11 FY12 FY13
No.
of
New
Clients
No.
of
Resources
Client & Manpower Growth
No. of Billable Resources New Clients Added
35%
36%
37%
38%
39%
40%
41%
42%
43%
44%
45%
0
500
1,000
1,500
2,000
2,500
3,000
FY09 FY10 FY11 FY12 FY13
EBITDA
margins
(%)
EBITDA
(INR
Lakhs)
EBITDA
EBITDA EBITDA Margin
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
FY09 FY10 FY11 FY12 FY13
INR
Lakhs
Revenues (INR Lakhs)
Revenues